HBC sues landlord of Yorkdale, Square One claiming failure to run ‘first class’ malls

HBC sues landlord of Yorkdale, Square One claiming failure to run ‘first class’ malls
TORONTO — Hudson’s Bay Co. has filed a lawsuit against the landlord of several of its department stores, alleging a failure to operate and maintain “first class shopping centres.” In a statement of claim filed in an Ontario Superior Court, HBC alleges that Oxford Properties Retail Holdings is in breach of lease agreements and the contractual duty of good faith.... Read More

North American stock markets flat a week ahead of U.S. election

North American stock markets flat a week ahead of U.S. election
TORONTO — North American stock markets were relatively flat Tuesday with corporate earnings dictating the share performance of individual companies. “Strong earnings are leading to price increases and disappointing earnings results are leading to reversals for stocks,” said Craig Jerusalim, portfolio manager at CIBC Asset Management. “And that’s the way it should be, back to a stock-picker’s market when the... Read More

Trump signs proclamation formally exempting Canadian aluminum from tariffs

Trump signs proclamation formally exempting Canadian aluminum from tariffs
WASHINGTON, Wash. — Donald Trump has officially let Canadian aluminum producers out of the national-security doghouse — for now. The U.S. president formally signed a proclamation today exempting Canadian aluminum exports from punitive Section 232 tariffs. But the proclamation reserves the right to reimpose the 10 per cent levies, ostensibly on national security grounds, if aluminum exports spike again before... Read More

Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,020.94, down 58.61 points.) Cenovus Energy Inc. (TSX:CVE). Energy. Up 30 cents, or 6.7 per cent, to $4.77 on 14 million shares. Royal Bank of Canada (TSX:RY). Financials. Down $1.59, or 1.68 per cent, to $92.91 on 8.8 million shares. Nevada Copper... Read More

Workers at two more Indigo bookstores vote to unionize, bringing total to three

Workers at two more Indigo bookstores vote to unionize, bringing total to three
Workers at two more Indigo Books and Music Inc. stores have voted in favour of unionization, bringing the total to three locations. Bookstore employees at an Indigo in Montreal and a Chapters in Coquitlam, B.C., have voted to join a union, following in the steps of workers at an Indigo in Mississauga, Ont.. Kevin Shimmin, a national representative with United... Read More

Cenovus targets 20 to 25 per cent workforce reductions following Husky takeover

Cenovus targets 20 to 25 per cent workforce reductions following Husky takeover
CALGARY — Cenovus Energy Inc. is aiming to cut as many as one in four jobs — potentially more than 2,000 workers — if it succeeds in its $3.8-billion friendly takeover of rival Husky Energy Inc. In an email, Cenovus spokesman Reg Curren says it aims to trim between 20 and 25 per cent of the 8,600 employees and contractors... Read More

Suncor Energy relocating its PetroCanada head office to Calgary from Ontario

Suncor Energy relocating its PetroCanada head office to Calgary from Ontario
CALGARY — Suncor Energy Inc. is moving its PetroCanada head office to Calgary from two offices in Ontario next year, affecting about 700 workers. A company spokesman says the shift is part of efforts by the oilsands and retail fuel giant to remain competitive by integrating the downstream business with the rest of Suncor to be more efficient. The downstream... Read More

Strong sales of drugs, vaccines, propel Merck in 3Q

Strong sales of drugs, vaccines, propel Merck in 3Q
Drugmaker Merck, bouncing back from a $1.6 billion hit from the coronavirus pandemic in the second quarter, boosted its third-quarter profit by 55% and blew past Wall Street expectations. The strong result was due to sales slightly higher than a year ago, plus restrained spending and a one-time gain. The Kenilworth, New Jersey, company on Tuesday said it’s making progress... Read More